Starcom Information Technology Limited reported a widened net loss of ₹619.64 crore for the financial year ended March 31, 2026, compared to a loss of ₹499.65 crore in the previous year. Revenue from operations declined to ₹179.85 crore from ₹297.35 crore in FY25. The company's Board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

The statutory auditors, C A S & Co., issued a qualified opinion on the financial results. Key qualifications include overdue statutory dues totaling ₹1,629.08 lakh, unpaid rent of ₹660.81 lakh for premises owned by a promoter, and uncertainty regarding the recoverability of intangible assets under development valued at ₹2,431.02 lakh. Additionally, the auditors highlighted a material uncertainty related to the company's ability to continue as a going concern due to eroded net worth and current liabilities exceeding current assets.

Financial Performance

Assets and Liabilities

The company's total assets stood at ₹2,755.70 lakh as of March 31, 2026, down from ₹2,925.18 lakh in the previous year. Total equity was reported as a negative balance of ₹3,004.43 lakh, indicating a fully eroded net worth. Current liabilities of ₹5,109.07 lakh significantly exceeded current assets of ₹248.78 lakh.

The financial results were submitted to BSE Limited pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Starcom Information Technology Limited has issued a postal ballot notice dated May 8, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice seeks approval of the company's members through a special resolution via remote e-voting for the appointment of Mr. Kalyan Kumar Vattipalli (DIN: 08407618, Independent Director ID: IDDB-DI-202410-065634) as an Independent Director of the company.

Appointment Details

The Board of Directors, on the recommendation of the Nomination and Remuneration Committee, appointed Mr. Kalyan Kumar Vattipalli as an Additional Director in the capacity of an Independent Director with effect from February 13, 2026. The proposed appointment is for a period of five years commencing from that date, and his office shall not be liable to retire by rotation. The appointment is now being placed before the members for formal approval in compliance with Section 149 read with Schedule IV of the Companies Act, 2013.

Key details of the appointment are summarised below:

Profile of the Proposed Appointee

Mr. Kalyan Kumar Vattipalli, aged 40 years, is a qualified Chartered Accountant and Company Secretary with over 15 years of experience in Corporate Finance, Fund Raising, Mergers & Acquisitions, Accounting, Auditing, Banking, Investments, Statutory Compliances, and Company Secretarial activities. He has headed the finance function of four startup companies and scaled them from the idea initiation (Series A) stage to the pre-IPO or Merger & Acquisition stage. He has demonstrated proficiency in mapping business requirements and designing and implementing systems to achieve cost control, financial discipline, and enhanced organisational efficiency.

Mr. Vattipalli has submitted a declaration confirming that he meets the criteria of independence as prescribed under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of the SEBI (LODR) Regulations, 2015. He has also confirmed that he is not disqualified from being appointed as a Director under Section 164 of the Act and is not debarred from holding the office of a Director by any order of SEBI or any other authority. There is no inter se relationship between him and any other member of the Board or Key Managerial Personnel of the company.

E-Voting Schedule and Process

The remote e-voting process will be facilitated through the NSDL e-Voting platform. Members are required to cast their votes electronically within the designated window. The key dates for the postal ballot process are as follows:

Nikunj Jain, Chartered Accountant, has been appointed as the Scrutinizer to conduct the postal ballot through the remote e-voting process in a fair and transparent manner. The Scrutinizer will submit his report to the Chairman of the company upon completion of scrutiny. The results, along with the Scrutinizer's Report, will be intimated to BSE Limited and uploaded on the company's website at https://starcominfotech.com/ and on the website of National Securities Depository Limited (NSDL).

Shareholder Participation

The postal ballot notice is being sent only through electronic mode to members whose e-mail addresses are registered with the company or depositories, in compliance with applicable MCA Circulars. Members holding shares in physical mode or demat mode whose email IDs are not registered are required to provide the requisite documents to info@starcominfotech.com or contact NSDL at evoting@nsdl.com to procure login credentials. The notice is also available on the company's website at www.starcominfotech.com . The Board has noted that none of the Directors or Key Managerial Personnel of the company or their relatives, except Mr. Kalyan Kumar Vattipalli himself, is in any way concerned or interested in the resolution set out in the notice.